The Tax Office is currently reaching out to clients who are reporting through Single Touch Payroll over some irregularities, with advisers urged to assist with ensuring they are compliant.
The ATO has begun emailing Single Touch Payroll employers who have
either ceased reporting for over 45 days or have submitted employees
under multiple payroll or Business Management Software (BMS) IDs.
According to the ATO, these reporting errors may cause their
employees to see incorrect, incomplete or multiple entries in their
BAS and tax agents with business clients who have been contacted by
the Tax Office have been urged to encourage their clients to check their
data is accurate.
Agents should also remind them that they must finalise their
employees’ end-of-year payroll information before 31 July, even if
employees have ceased working for them or they have dropped below the
threshold for reporting.
“If you have individual clients whose information is incomplete or
incorrect, we are encouraging them to wait until their employer has
finalised their STP reports before lodging their return,” the ATO said.
With the introduction of STP and the extension to 31 July for employers to make a finalisation declaration for the 2018–19 financial year, the ATO has advised clients to hold off on lodging their tax returns.
“Most employers have until 31 July 2019 to finalise their employees’
income statements, so we strongly encourage taxpayers to wait a few
weeks before lodging their tax return,” ATO assistant commissioner Karen
“If you lodge your tax return before your income statement is
tax-ready, your employer might make changes, and you may need to lodge
an amendment. In some cases, additional tax and interest may be